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  • #9,181
  • Dec 2, 2013 2:13am Dec 2, 2013 2:13am
also took short profit due to no follow thru
  • #9,182
  • Dec 2, 2013 5:29am Dec 2, 2013 5:29am
Tony,

What do you mean by '1 trial during press'?

Cheers

Moonie.


Quoting Tony112
Sorry for the delayed post, here is what we trade this week: 4:30am GBP Manufacturing PMI in less than 4 hours!!!! be carefull news comes out at :28 SL:15 4:30am GBP Services PMI Wednesday be carefull news comes out at :28 SL:15 8:30am EUR ECB Press Conference on Thursday SL:15 + 1 trial during press with SL:5 8:30am USD Non-Farm Employment Change on Friday SL:15 let's win!!
  • #9,183
  • Dec 2, 2013 6:04pm Dec 2, 2013 6:04pm
Quoting Moonie
Tony, What do you mean by '1 trial during press'? Cheers Moonie. {quote}

There's gonna be the prelim report exactly when the press conference starts so that disturbs everything...

On my part, there's gonna be a surveillance of the 5 sec frame chart, as soon as you see a breakout composed of a 5-10 pip candle get in the train. 5 pip SL
Invest in alarm clocks
  • #9,184
  • Dec 2, 2013 6:22pm Dec 2, 2013 6:22pm
Cheers Tony, I see. Unfortunately, my platform only goes down to 1 minute. I'll try it with that.

Quoting Tony112
{quote} There's gonna be the prelim report exactly when the press conference starts so that disturbs everything... On my part, there's gonna be a surveillance of the 5 sec frame chart, as soon as you see a breakout composed of a 5-10 pip candle get in the train. 5 pip SL
  • #9,185
  • Dec 2, 2013 6:43pm Dec 2, 2013 6:43pm
Quoting Moonie
Cheers Tony, I see. Unfortunately, my platform only goes down to 1 minute. I'll try it with that. {quote}

If you're experienced, you'll notice a 5 pip burst or drop even in front of a 1 m chart, its sudden
Invest in alarm clocks
  • #9,186
  • Dec 2, 2013 6:56pm Dec 2, 2013 6:56pm
Ive got a 200 tick chart but never use it. Would that be any good Tony?

Quoting Tony112
{quote} If you're experienced, you'll notice a 5 pip burst or drop even in front of a 1 m chart, its sudden
  • #9,187
  • Dec 2, 2013 8:51pm Dec 2, 2013 8:51pm
Quoting Moonie
Ive got a 200 tick chart but never use it. Would that be any good Tony? {quote}

Yes, any chart works, the basic concept is to detect when someone moves their mouth and drops unexpected news. Fakes can occur.
Invest in alarm clocks
  • #9,188
  • Dec 2, 2013 10:17pm Dec 2, 2013 10:17pm
Hi Tony,
I saw from your picture in first post, you will create only buy order with SL and PT set according to list. is that correct? Will you do buy/sell order together at last 2 minute and set the SL and TP according to your setting?

Thank.

P/S: Prepare to trade US NFP this coming friday.
  • #9,189
  • Dec 2, 2013 10:47pm Dec 2, 2013 10:47pm
Quoting davidsk2001
Hi Tony, I saw from your picture in first post, you will create only buy order with SL and PT set according to list. is that correct? Will you do buy/sell order together at last 2 minute and set the SL and TP according to your setting? Thank. P/S: Prepare to trade US NFP this coming friday.
Tony only ever buys, its like flipping a coin 50/50 but SL is waaay lower then TP therefore it puts the advantage into our favor

And NFP is the only news I'm trading this week. I'm going to try something new and if it works I'll let y'all know
  • #9,190
  • Dec 3, 2013 2:19am Dec 3, 2013 2:19am
Quoting dvanderlinde
{quote} Tony only ever buys, its like flipping a coin 50/50 but SL is waaay lower then TP therefore it puts the advantage into our favor And NFP is the only news I'm trading this week. I'm going to try something new and if it works I'll let y'all know

Yes, I would like to learn it and trade for NFP this coming Friday. In this case, if we fail at this time, then we need to wait another time to trade to get it win, right? I'm think to do pending order for both side, then waiting which one to trigger and cancel the other one. Maybe will apply the TP and SL according to Tony attachment.
  • #9,191
  • Dec 3, 2013 10:53am Dec 3, 2013 10:53am
I would prefer trying an OCO order (one cancels the other) rather than a pending order on both sides. I've had bad experiences using two orders and having them both triggered and being hit with two lots of s/l's (whipsawed)

Quoting davidsk2001
{quote} Yes, I would like to learn it and trade for NFP this coming Friday. In this case, if we fail at this time, then we need to wait another time to trade to get it win, right? I'm think to do pending order for both side, then waiting which one to trigger and cancel the other one. Maybe will apply the TP and SL according to Tony attachment.
  • #9,192
  • Dec 3, 2013 2:42pm Dec 3, 2013 2:42pm
Quoting Moonie
I would prefer trying an OCO order (one cancels the other) rather than a pending order on both sides. I've had bad experiences using two orders and having them both triggered and being hit with two lots of s/l's (whipsawed)
Quoting davidsk2001
{quote} Yes, I would like to learn it and trade for NFP this coming Friday. In this case, if we fail at this time, then we need to wait another time to trade to get it win, right? I'm think to do pending order for both side, then waiting which one to trigger and cancel the other one. Maybe will apply the TP and SL according to Tony attachment.

Why Tony and others like me don't use OCO or pending orders during news times is because Theres is huge slippage and you might not get filled till the move is over or almost over therefore losing our edge.


I used to use pending orders but when spread widens on the MT4 platform the BUY order usually always gets filled because of the widening of spreads and then say you have a 10 pips SL it may get slipped to like 30 pips. I've been there done that got the T-shirt type thing. The most profiable way that I have found so far is just buy with low SL and big TP odds are in your favor


~Dustin
  • #9,193
  • Dec 3, 2013 4:41pm Dec 3, 2013 4:41pm
Just won 42 pips on the AU GDP release, using OCO.

  • #9,194
  • Dec 3, 2013 5:36pm Dec 3, 2013 5:36pm
Quoting Moonie
Just won 42 pips on the AU GDP release, using OCO.
Was this on demo or real?
  • #9,195
  • Dec 3, 2013 5:51pm Dec 3, 2013 5:51pm
Real Dustin.

Quoting dvanderlinde
{quote} Was this on demo or real?
  • #9,196
  • Dec 3, 2013 6:34pm Dec 3, 2013 6:34pm
Quoting Moonie
Real Dustin. {quote}
Well then Congratz!!
  • #9,197
  • Dec 3, 2013 6:42pm Dec 3, 2013 6:42pm
Quoting dvanderlinde
{quote} Well then Congratz!!
Cheers Dustin,

Going back to your earlier comments about slippage, I have experienced this a few times myself, very annoying. I've experimented with a few brokers and the latest one is very good for not widening the spread, so my OCO strategy works quite well. When you say you always Buy, what pairs do you trade? Do you always go short USD?
  • #9,198
  • Dec 4, 2013 1:53am Dec 4, 2013 1:53am
Moonie,

Which is your best broker for your OCO strategy? How about their slippage?

Thanks
  • #9,199
  • Edited 2:17am Dec 4, 2013 2:05am | Edited 2:17am
warning: buildup at 1.3592, there's gonna be a spike up eur/usd

edit
failed, cancelled at -2 pips
Invest in alarm clocks
  • #9,200
  • Dec 4, 2013 2:48am Dec 4, 2013 2:48am
Quoting alberKK
Moonie, Which is your best broker for your OCO strategy? How about their slippage? Thanks
Im using ETX Capital at the moment. They seem to keep the spread low on EU, GU, AU but have bigger spreads on the more exotic pairs.
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